PointFive, a NYC-based provider of a cloud cost optimization platform, raised $20M in Series A funding.
The round was led by Salesforce Ventures, with participation from all existing investors including Index Ventures, Entree Capital, Sheva VC, and Vesey Ventures. Investors also included angel investors such as Assaf Rappaport, Mickey Boodaei, Tamar Yehoshua, Yasmin Lukatz, Amiram Shachar, Dean Sysman, Raanan Raz and Kfir Tishbi.
The company intends to use the funds to accelerate its mission to expand into multi-cloud environments, including recently announced GCP support and upcoming Azure capabilities.
Led by CEO Alon Arvatz, PointFive specializes in cloud cost optimization. Utilizing its proprietary DeepWaste™ Detection Engine, built on cyber-inspired methodologies and advanced AI models, it identifies cloud waste, providing actionable insights and long-term management solutions.
The platform covers a broad range of cloud services, including DynamoDB, EKS, VPC networking, EC2, RDS, and S3, enabling deep optimization across databases, storage, and networking resources to uncover hidden inefficiencies and drive substantial cost savings.
In just 18 months since emerging from stealth, PointFive counts major tech companies like Fanatics, Elastic, BHN, Checkmarx among others as paying customers, while scaling its operations and capabilities to meet the growing demand for a new approach to cloud infrastructure and cost management.
PointFive plans to expand its team and scale its sales and marketing efforts in the U.S.
FinSMEs
12/11/2024